Elm Street Motors maintains a petty cash fund of $200. On December 31, the fund holds $12
Question:
Requirements
1. Make the journal entry to replenish the petty cash fund.
2. Elm Street Motors decided to increase the petty cash fund by $80. Prepare the journal entry.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 52% (17 reviews)
Journal DATE ACCOUNTS POST REF Dr Cr Dec 31 ...View the full answer
Answered By
Lamya S
Highly creative, resourceful and dedicated High School Teacher with a good fluency in English (IELTS- 7.5 band scorer) and an excellent record of successful classroom presentations.
I have more than 2 years experience in tutoring students especially by using my note making strategies.
Especially adept at teaching methods of business functions and management through a positive, and flexible teaching style with the willingness to work beyond the call of duty.
Committed to ongoing professional development and spreading the knowledge within myself to the blooming ones to make them fly with a colorful wing of future.
I do always believe that more than being a teacher who teaches students subjects,...i rather want to be a teacher who wants to teach students how to love learning..
Subjects i handle :
Business studies
Management studies
Operations Management
Organisational Behaviour
Change Management
Research Methodology
Strategy Management
Economics
Human Resource Management
Performance Management
Training
International Business
Business Ethics
Business Communication
Things you can expect from me :
- A clear cut answer
- A detailed conceptual way of explanation
- Simplified answer form of complex topics
- Diagrams and examples filled answers
4.90+
46+ Reviews
54+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
A small company maintains a petty cash fund for minor expenditures. In February and March 2014, the following transactions took place: a. The fund was established in the amount of $200.00 on Feb. 1...
-
The Crown Company established a petty cash fund of $600 for incidental expenditures on January 2, 2007. At the end of the month the count of cash on hand indicated that $57.35 remained in the fund. A...
-
On August 1, City Delivery creates a petty cash fund with a balance of $450. During August, Eva Unger, the fund custodian, signs the following petty cash tickets: On August 31, prior to...
-
Brandon Stroud was driving a golf car made by Textron, Inc., to transport guests at Christmas party. The golf car did not have lights, but Textron did not warn against using it on public roads at...
-
Use integration by parts to evaluate the following. Check your answer by taking the derivative. x cos(3x)dx
-
An enzymes active site contains arginine residues. Which residues will likely be found on the corresponding substrate region? (A) Arginine (B) Lysine (C) Glutamate (D) Isoleucine COO HN-C-H CH | 2 CH...
-
Should medical advice be dispensed on the telephone? Explain your opinion.
-
An object with mass 0.200 kg is acted on by an elastic restoring force with force constant 10.0 N/m. (a) Graph elastic potential energy U as a function of displacement x over a range of x from -...
-
Determine the measure of
-
Corporate Bank has $840 million of assets with a duration of 12 years and liabilities worth $720 million with a duration of seven years. Assets and liabilities are yielding 7.56 percent. The bank is...
-
Lynns Music School created a $370 petty cash fund on August 1. During the month, the fund custodian authorized and signed petty cash tickets as follows: Requirements 1. Record the journal entry to...
-
On March 1, The Party Palace creates a petty cash fund with a balance of $300. During March, Ruth Mangan, the fund custodian, signs the following petty cash tickets: On March 31, prior to...
-
LaCroix Company produces handbags from leather of moderate quality. It distributes the product through outlet stores and department store chains. At LaCroixs facility in northeast Ohio, direct...
-
Calculate the present value of a loan that could be cleared by payments of $3,350 at the end of every 6 months for 5 years if money earns 7.89% compounded semi-annually. Round to the nearest cent
-
If you apply the substitution to evaluate the integral (2x + 1) 10 dx by choosing u = (2x+1), then the original integral will be converted to
-
If 103 people attend a concert and tickets for adults cost $2.25 while tickets for children cost $1.5 and total receipts for the concert was $179.25, how many of each went to the concert? adults...
-
Simplify. 2. 10. X +6 y x+3 11. X-3 x -9 3x-9 I 12. 5 X +3 2+ X+3
-
b A particle P oscillates in simple harmonic motion between the points A and B, where AB = 16 m. The period of the motion is 4s. Find the speed of P when it is 1 m from B. [5 marks]
-
What is the volume in milliliters of 15.0 g of (a) Liquid water at 25C, (b) Ice at 0C, (c) Gasoline at 25C, (d) Lead at 25C, (e) Mercury at 25C, (f) Helium gas at 0C and 1 atm pressure? (Use data...
-
What can scientists learn by comparing the fossilized skeletons of extinct primates with the bones of modern species?
-
A delivery van cost 32,000 and was purchased on 28 March 2016. It was depreciated at a rate of 25% using the reducing balance method. A full years depreciation was charged in the year of purchase but...
-
The accounting records for Best Way Lumber, Inc., for the year ended November 30, 2018, contain the following information: a. Purchase of fixed assets, $88,400 b. Proceeds from issuance of common...
-
Prepare a comparative common-size income statement for Variline, Inc., using the 2018 and 2017 data from E12-12A. Round percentages to the nearest tenth of a percent. Variline, Inc. Comparative...
-
Prepare a comparative common-size income statement for P. Donnelly, Inc., using the 2018 and 2017 data of E12-22B. Round percentages to the nearest tenth of a percent. P. Donnelly, Ino. Comparative...
-
Delph Company uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that 50,000 machine-hours would...
-
Sunland Corp. designs and builds custom harvesting equipment for logging companies across Canada. The company, which is publicly traded, has a May 31 year end. On February 18, 2024, Sunland signed a...
-
Kubin Company's relevant range of production is 18,000 to 22,000 units. When it produces and sells 20,000 units, its average costs per unit are as follows: Average Cost per Unit Fixed administrative...
Study smarter with the SolutionInn App